Julián Darío is a 26-year old young man who, having completed his military service with the Columbian National Army, decided to earn his living in the world of business. He started his own business. With his savings and a lot of hard work, he opened an internet cafe in his neighborhood, where there was previously no such service offered. He offers internet service and sells cell phone accessories and sweets.
Julián affirms that his greatest desire is to improve and expand his business, which is why he is requesting a loan. He plans to invest in the purchase of merchandise and to repair two CPUs that are in disrepair. Julián hopes that with said investment, his sales will improve and the flow of people coming through will increase, which would guarantee his family improved life and financial condition.
Julián Darío de 26 años de edad, es un joven que tras haber prestado su servicio militar en el Ejercito Nacional de Colombia, decidió dedicarse al mundo de los negocios y montar su propia empresa. Con sus ahorros y con mucho esfuerzo optó por abrir en su sector una sala de internet, en donde presta servicio de internet, venta de accesorios para celular y comercialización de dulces, debido a que en su barrio no se contaba con este servicio.
Asegura que su mayor deseo es poder mejorar y ampliar su negocio por lo cual se encuentra solicitando un crédito a fin de invertir en la compra de mercancía y realizar la reparación de dos CPU que se encuentran en mal estado. Julián espera que con dicha inversión sus ventas mejoren y el flujo de personas aumente, garantizándole a su familia mejores condiciones de vida y económicas.
This loan is structured on Kiva as a bullet loan, which means a single payment is required at the end of the loan term. By Colombian law, Kiva's partner Interactuar is required to offer borrowers loans with a variable interest rate that fluctuates with the market rate. Because fixed monthly payments are applied first to interest and then to principal, Interactuar is unable to predict upfront what portion of each repayment would go towards the loan principal. This creates a challenge with Kiva's system, which doesn't allow for unpredictable principal payments, and can result in some Interactuar clients appearing falsely delinquent. To remedy this, the loan has an end-of-term repayment plan on Kiva, but the borrower will continue scheduled monthly repayments to Interactuar, who will then pass along the principal amount to Kiva lenders. This means that you may see repayments made on this loan throughout the repayment term, as opposed to receiving repayment in full at the end of the loan term.